South China Morning Post
International · 4 hrs ago
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Will Hong Kong’s lending clampdown wean helpers off debt – and save their dreams?
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Hong Kong is implementing lending restrictions targeting domestic helpers, with one Filipino helper's case illustrating how workers have become trapped in debt cycles by taking out loans for others.
Will Hong Kong’s lending clampdown wean helpers off debt – and save their dreams?
Anna, a domestic helper from the Philippines, had managed her finances well until she took out two loans over the past few months for a friend she described as being “like a mother to me”.
The 37-year-old, who asked to be identified only by her first name, now has to pay creditors about HK$9,000 (US$1,149) a month – almost twice her salary – leaving her extremely stressed about her debt.
“My friend said she needed the money and asked if I could borrow from banks under my name, saying she would..
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